Florida Gov. Jeb Bush has signed legislation that will allow foreign insurers to sell life insurance and annuity contracts from Florida to non-U.S. residents.[@@]
The legislation, which Bush signed Wednesday, will take effect July 1.
An attorney with a law firm that spearheaded a campaign to pass the law said its passage will be a boon to international insurance sales in the state.
The legislation could create “thousands of new, high-paying jobs in Florida while elevating Florida’s stature as an international insurance center,” says Bowman Brown, senior partner with Shutts & Bowen L.L.C., Miami.